News

News | Published October 14 2019

Javid announces November 6 Budget

Chancellor of the Exchequer Sajid Javid has announced that his first Budget will take place on November 6.

Javid said: “This is the right and responsible thing to do. We must get on with governing”.

He added that the November Budget will be historic, being the first to take place after the UK’s departure from the EU on October 31, and will lay out the government’s plans to “shape the economy for the future”.

Javid said back in August’s spending review that austerity had come to an end, pledging a spending increase for the next financial year starting in April 2020.

The chancellor has already hinted that he could increase government borrowing amid record-low borrowing costs, while relaxing existing government regulations on borrowing against national income to provide more leeway.

Current regulations say that government borrowing must remain below two per cent of national income, equivalent to around £46 billion.

Labour shadow chancellor John McDonnell believes that the Budget will be more of “an electioneering stunt” of Conservative spending pledges, as opposed to a Budget which will “rebuild our stalling economy and reset the direction of our country”.

Meanwhile, BBC assistant political editor, Norman Smith, has suggested that the Budget could be delayed in the event of a no-deal Brexit in October.


Related Stories

Authored by

Scott Challinor
Business Editor
@theparlreview
October 14 2019

Featured Organisations

Front Lawn Primary Academy

Front Lawn Primary Academy is committed to delivering positive outcomes for its pupils and becoming a gateway of opportunity for the local community. ... Read more

Horizon Academy Trust

Horizon Academy Trust is a primary-only academy chain based in Hull and the East Riding. It was created to facilitate a strong working partnership bet... Read more

Solo Housing East Anglia

Solo Housing (East Anglia) Ltd provides a range of accommodation options for single people. They help a variety of people, from those who simply need ... Read more

Latest News

EAPL cite diverse customer base as source of success